2024-01-13 16:39:27
ALGIERS – Crédit populaire d’Algérie (CPA) has submitted to the Commission for the Organization and Supervision of Stock Exchange Operations (Cosob) its request for listing on the Algiers Stock Exchange, and the opening of its capital by public offering, up to 30%, we learned on Saturday from Cosob.
“Crédit populaire d’Algérie (CPA) filed last week with COSOB a request for an IPO and the opening of its capital by public offering of up to 30% via a sale of shares”, declared to the APS the president of the commission, regulatory body of the national stock market, Youcef Bouzenada.
This request, presented in accordance with the provisions of COSOB regulation no. 96-02 of June 22, 1996, relating to the information that must be published by companies and organizations making public offerings when issuing securities (shares and obligations), “includes a draft information notice intended for public information and relating to the organization of the bank, its financial situation and the evolution of its activity”, he explained.
According to Mr. Bouzenada, any company requesting the admission of its securities to trading on the stock exchange must first publish a notice, in accordance with article 41 of legislative decree 93-10 amended and supplemented from May 23, 1993, adding that the information notice must be approved by Cosob prior to its publication.
Currently, the draft information notice as well as the related file are “being examined by the technical services of Cosob. Once this operation is completed, the Cosob college will hold a plenary session to decide on the visa” , authorizing the public bank to resort to public offerings through the issuance of securities, said the first head of Cosob.
In addition to the CPA, the local development bank (BDL) will also have to open its capital via the stock market this year, as part of an approach aimed at modernizing the banking sector, with a view to stimulating investment and the property market. employment, while boosting the stock market as an additional tool for financing the national economy, we recall.
“These two establishments must establish themselves as models for financial institutions in terms of superior quality and efficiency services,” underlined the President of the Republic Mr. Abdelmadjid Tebboune, noting that the year 2024 will be the year of a profound banking reform.
Currently, the Algiers Stock Exchange has four listed securities: Alliance Assurances, Biopharm, El Aurassi and Saidal, in addition to an SME, AOM Invest SPA, specializing in financial investments.
In 2022, the Algiers Stock Exchange recorded a “significant recovery” in activity with an increase in market capitalization to 67.42 billion Da, an increase of 48% compared to 2021, according to data from the Commission. .
1705182373
#CPA #submits #application #listing #Algiers #Stock #Exchange
